depreciation to be provided prospectively or retrospectively
This query is : Resolved
05 January 2011
I have acquired fixed asset in 2007 but for the same i received government grant in 2010. I have provided the accounting treatment by reducing from the gross value of asset.
issue is
Whether depreciation on above said asset (after deducting subsidy)is to be provided prospectively or retrospcectively.
issue is
Whether depreciation on above said asset (after deducting subsidy)is to be provided prospectively or retrospcectively.
05 January 2011
Prospectively, because for this purpose WDV can be equated with actual cost.
Manmohan ACA, CS
(Expert)
05 January 2011
prospectively
AS-12
AS-12
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